Prominent economist Raoul Pal radically changed his position on Terra (LUNA) after its collapse
Investor and economist Raoul Pal, founder of Real Vision media platform, denies the fact he supported LUNA, a core native cryptocurrency of collapsed blockchain Terra. Crypto Twitter recommends that he not delete his earlier tweets – though he might want to.
“I never understood”: Raoul Pal on LUNA
Cryptocurrency enthusiast @PeterParadoxGG shared on Twitter that he poured nearly $500,000 he’s been saving for 13 years into Terra (LUNA) following recommendations from Raoul Pal and Mike Novogratz. Then the token crashed to near zero values.
Responding to his tweet, Mr. Pal claimed that he personally never owned Terra (LUNA), never recommended it and even never understood how it works.
Twitter users immediately began retweeting Mr. Pal’s pro-LUNA statements. For example, exactly six months ago he called Solana, Polkadot, Avalanche and Terra his favorite large cap stocks.
Also, he made a similar statement on March 10, 2022, calling LUNA a “good” token. One of his followers attached a video of Raoul Pal’s November interview with HedgeEye, where he also calls Solana and Terra viable alternatives to Ethereum (ETH).
Exchanges and services will not support Terra 2.0
Mr Pal has denied all charges, saying his quotes were taken out of context. He reiterates that he does not invest in DeFi, as he does not fully understand it.
As covered by U.Today previously, LUNA and associated stablecoin TerraUSD (UST) collapsed following massive withdrawals from Anchor Protocol (ANC) yield farming module.
Terraform Labs’ Do Kwon has offered a number of plans to restore Terra (LUNA), including launching a new blockchain. However, some services said they would not support the new network.
